Month March 2009

Lil’ baby Ponzi scheme

The Feds have uncovered a $40 million Ponzi scheme in Folsom, CA. If the miscreants get convicted on state charges, Folsom Prison is right there waiting for them. How convenient. Investors were promised low risk investments paying 42% a year.…

Prison reform is coming!

Yessiree, what with all the current Ponzi schemes, frauds, stock market manipulations, and other assorted high finance crimes by lowlifes, why Bernie Madoff is just the leading edge of former Wall Street BSDs who are going to prison. Given that…

Seymour Hersh: Murder Inc. from the White House

I’m speechless. Emphasis added “Right now, today, there was a story in the New York Times that if you read it carefully mentioned something known as the Joint Special Operations Command — JSOC it’s called. It is a special wing…

Congress may force SEC to suspend mark to market

This is completely insane, as well as venal and bordering on corrupt. I mean, if Congress permits “assets” to be valued at cost rather fair market value, then “what’s the point of accounting, the proper measure of things,” says Sue,…